Snyder's-Lance Sells Private Brands and Two Manufacturing Plants

CHARLOTTE, N.C. (AP) — The pretzel and chipmaker Snyder's-Lance is selling its private brands and two manufacturing plants to Shearer's Foods LLC for $430 million as it hones its focus on its well-known brands.

The company's branded foods accounted for about 61 percent of overall revenue last year, according to regulatory filings, and private brands made up less than 20 percent.

The plants being sold to the private-label snack maker are in Burlington, Iowa, and Ontario, Canada.